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Why isn't this score better?


Why isn't this score better?

My score is 630. Eight years ago I had a bankruptcy. Since then no delinquincies, never a late payment. Same employer for the last 7.5 years. I had a mortgage and paid it off,(22k for a cabin I was living in). I got a car loan and paid it off. I got a credit card and pay it in full every month. Credit limit is 5K. I never charge more than 30 percent of credit limit, usually much less. I have one other credit card I used for a while, but don't anymore. Credit limit is 2K. I am an authorized user on a Home Depot card, which was used once for a bathroom remodel and paid off in 6 months. I have no other debt. Oh, and I'm cute. Why don't I have a better score?!
Message 1 of 3
Moderator Emeritus

Re: Why isn't this score better?

Can We assume the BK was a Ch7? So it is still hanging on a bit?

Your scores are not that bad.

You have not open Mortgage or installment loans.
You have a limited Revolving history.

Inactive cards are like ugly chicks- they have to get taken out every now and then, even if you don't want too
(this was a play off your CUTE)

I say use that other card at least every 6 months-
Get a small personal loan from your bank/credit union

Then Time is your friend.
Message 2 of 3

Re: Why isn't this score better?

I called my bank for a small loan and explained that I was trying to raise my score. The loan officer checked my score for me and it's up to 698 since I last checked...and he said he would loan to me at A rates. He also advised me not to take out a loan I didn't really need, since it might not help the score to get new credit. Just give it some more time.

Looks like things are working out better than I expected. Thanks very much for the advice!
Message 3 of 3